BY EMILY DAVENPORT | Some of the country’s most expensive neighborhoods in 2019 were found right here in Manhattan, but Battery Park City’s rental prices seem to soar higher and higher every year.
RENTcafe recently released a report that explores which neighborhoods in the country, by ZIP code, are among the most expensive in 2019. According to their findings, out of the top ten most expensive areas, seven ZIP codes were in Manhattan.
Manhattan’s 10282, encompassing Battery Park City, was found to be the most expensive neighborhood in the country with an average rental price $6,211 per month. As sky high as the average rent is, that number represents an increase of 12.4 percent increase year-over-year.
Holding the spot as the second-most expensive neighborhood in America is Manhattan’s 10013 ZIP code, covering Tribeca and SoHo, with an average rental price of $5,327 per month. Following behind at number three is Manhattan’s 10023 ZIP code, holding the Upper West Side, with an average rental price of $5,053 per month.
While Tribeca and SoHo rents went down 0.8 percent year-over-year, the Upper West Side’s rent increased 5.4 percent compared to last year.
Jumping down the list to number seven, Manhattan’s 10065 ZIP code covering the Upper East Side has an average rental price of $4,777, marking a 6.1 percent decrease year-over-year. At number eight is Manhattan’s 10002, encompassing the Lower East Side (LoDel) area, with an average rent of $4,666 per month, a 2.8 percent increase year-over-year.
Following very close behind at number nine is Manhattan’s 10025 ZIP code in the Upper West Side with an average rental price of $4,646. The tenth most expensive neighborhood in the country is Manhattan’s 10028 ZIP code, covering Yorkville, with an average rent of $4,642 per month. These areas each increased 1.6 percent and 3.7 percent, year-over-year.
To read the full report, visit rentcafe.com/blog/rental-market/market-snapshots/americas-most-expensive-zip-codes-2019/.